Crypto Review - 13 May 2024

Here are our directional views. These are starting points for your own research to identify opportunities that make sense for you.

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

The information below are meant for educational purposes and must not be taken as any investment advice or an investment recommendation, or solicitation for any transactions.

Bitcoin / Dollar intraday: the RSI is overbought

Our pivot point is at 61650.

Our preference:
The upside prevails as long as 61650 is support.

Alternative scenario:
Below 61650, expect 60290 and 59490.

Comment:
The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 61445 and 61324). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (62591).

Bitcoin Cash / Dollar intraday: the upside prevails as long as 431.6 is support

431.6 is our pivot point.

Our preference:
The upside prevails as long as 431.6 is support.

Alternative scenario:
Below 431.6, expect 417.7 and 409.4.

Comment:
The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 430.7 and 432.2).

DASH / Dollar intraday: the RSI is oversold

Our pivot point stands at 27.9.

Our preference:
The downside prevails as long as 27.9 is resistance.

Alternative scenario:
Above 27.9, look for 28.7 and 29.1.

Comment:
The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 27.7 and 28.1).

EOS / Dollar intraday: gap

Our pivot point stands at 0.7873.

Our preference:
The downside prevails as long as 0.7873 is resistance.

Alternative scenario:
The upside breakout of 0.7873, would call for 0.8115 and 0.8258.

Comment:
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading above its 20 period moving average (0.7672) but under its 50 period moving average (0.7771).

Ether / Dollar intraday: the upside prevails as long as 2912 is support

Our pivot point stands at 2912.

Our preference:
The upside prevails as long as 2912 is support.

Alternative scenario:
The downside breakout of 2912 would call for 2839 and 2795.

Comment:
The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2913 and 2922).

Ethereum Classic / Dollar intraday: our next up target stands at 28.07

25.90 is our pivot point.

Our preference:
Our next up target stands at 28.07.

Alternative scenario:
The downside breakout of 25.90 would call for 25.07 and 24.57.

Comment:
The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 26.14 and 26.44).

IOTA / Dollar intraday: rebound towards 0.2194

Our pivot point stands at 0.2013.

Our preference:
As long as 0.2218 is support look for 0.2414.

Alternative scenario:
The downside breakout of 0.2013 would call for 0.1948 and 0.1910.

Comment:
The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (0.2068) but under its 50 period moving average (0.2099).

Litecoin / Dollar intraday: the upside prevails as long as 80 is support

Our pivot point stands at 80.0.

Our preference:
The upside prevails as long as 80 is support.

Alternative scenario:
The downside breakout of 80 would call for 77.4 and 75.9.

Comment:
The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 80.7 and 81.3).

NEO / Dollar intraday: as long as 15.56 is resistance look for 14.11

Our pivot point stands at 15.56.

Our preference:
As long as 15.56 is resistance look for 14.11.

Alternative scenario:
The upside breakout of 15.56, would call for 16.04 and 16.32.

Comment:
The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price stands above its 20 period moving average (15.12) but below its 50 period moving average (15.21).

XRP / Dollar intraday: the upside prevails as long as 0.4922 is support

0.4922 is our pivot point.

Our preference:
The upside prevails as long as 0.4922 is support.

Alternative scenario:
The downside breakout of 0.4922 would call for 0.4779 and 0.4693.

Comment:
The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.4970 and 0.5006).